Illinois Municipal Retirement Fund, Oak Brook, on Friday committed up to $100 million each to two Blackstone real estate funds and a total of up to $40 million to three alternatives funds.
The board of the $30 billion defined benefit plan approved the commitments to the Blackstone Real Estate Partners Asia and Blackstone Real Estate Debt Strategies II. The plan committed up to $50 million to Blackstone Real Estate Partners VII in October 2012.
Also approved were up to $15 million in commitments each to Versant Venture Capital V, a fund run by Versant Ventures that invests in early stage health-care companies, and Vista Equity Partners' Foundation Fund II, a buyout fund targeting small- to midmarket software companies. Also, up to $10 million was committed to Beecken Petty O'Keefe IV, a midmarket health-care buyout fund.
The health-care buyout RFP was issued April 1, and the RFP for the venture capital fund was issued March 1. No RFP was issued for the real estate funds, said John Krupa, pension fund spokesman.
The pension fund's investment committee had recommended the commitments at a meeting Thursday.
The DB plan had 6% allocation targets each to alternatives and real estate as of March 31; its actual allocation to alternatives as of that date was 4.1% while 2.8% was in real estate.
